EDENS has expanded its South Florida holdings with the acquisition of Weston Street Buying Heart, a 108,623-square-foot, open-air purchasing middle in Davie, Fla. The property modified palms for some $51.3 million or about $483 per sq. foot, Industrial Observer reported.
Barings, the true property division of MassMutual, beforehand owned the asset, in line with CommercialEdge. Cornerstone Actual Property Advisors and Barings had acquired the Broward County property in July 2014 for roughly $32.3 million or $304 per sq. foot. The 2 firms merged two years later underneath Barings’ umbrella.
Accomplished in 1999, the 14.1-acre purchasing middle is situated east of Interstate 75 at 4410-4484 Weston Street, close to Griffin Street. About 33,000 autos cross the location each day.
Former anchor Workplace Depot vacated the house it had leased on the property earlier this month. Present tenants embrace Verizon, T-Cellular, Smoothie King, Weston Diner, Mission BBQ, Jersey Mike’s Subs, Dunkin’, Spartan Gyros and Pizza Heaven, amongst others, CommercialEdge additionally exhibits.
EDENS portfolio strikes
EDENS now owns 12 retail actual property property in Better Miami, together with River Market in Fort Lauderdale; Shadowood Sq. and Lakeside Centre in Boca Raton; and Fifth & Alton in Miami Seaside.
Final month, the agency accomplished enhancements to the 403,000-square-foot Downtown Palm Seaside Gardens property by including 13 new or increasing retail companions. The brand new tenants function a mixture of trend boutiques, eateries, private providers and wellness and spa choices.
EDENS has a portfolio of greater than 100 open-air retail facilities and mixed-use initiatives in high-growth markets throughout the nation.
In September 2024, the corporate offered a 158,709-square-foot grocery-anchored purchasing middle in East Greenwich, R.I., to a three way partnership between Regency Facilities Corp. and Model Road Properties for $46.7 million. The 20-acre property got here on-line in 1990.
